Public Employees Retirement System of Ohio cut its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,402 shares of the industrial products company’s stock after selling 2,729 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of Lincoln Electric worth $2,667,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Lincoln Electric by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock valued at $60,537,000 after purchasing an additional 39,548 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Lincoln Electric by 94.5% in the first quarter. BNP Paribas Arbitrage SA now owns 2,120 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 1,030 shares in the last quarter. SG Americas Securities LLC grew its stake in Lincoln Electric by 32.3% in the first quarter. SG Americas Securities LLC now owns 5,819 shares of the industrial products company’s stock valued at $488,000 after purchasing an additional 1,421 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Lincoln Electric by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 9,321 shares of the industrial products company’s stock valued at $782,000 after purchasing an additional 478 shares in the last quarter. Finally, Raymond James & Associates grew its stake in Lincoln Electric by 2.5% in the first quarter. Raymond James & Associates now owns 94,358 shares of the industrial products company’s stock valued at $7,914,000 after purchasing an additional 2,329 shares in the last quarter. Institutional investors and hedge funds own 76.42% of the company’s stock.
A number of research analysts have weighed in on LECO shares. Robert W. Baird upgraded Lincoln Electric from a “neutral” rating to an “outperform” rating and raised their price target for the company from $93.00 to $100.00 in a research note on Friday, July 12th. BidaskClub raised Lincoln Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Zacks Investment Research raised Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 price objective for the company in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Lincoln Electric has an average rating of “Hold” and a consensus price target of $95.56.
Shares of LECO traded down $0.45 during mid-day trading on Monday, reaching $88.89. The company’s stock had a trading volume of 10,131 shares, compared to its average volume of 287,324. Lincoln Electric Holdings, Inc. has a 1-year low of $72.28 and a 1-year high of $97.93. The stock has a market cap of $5.47 billion, a P/E ratio of 18.43, a PEG ratio of 1.55 and a beta of 1.23. The business has a 50-day simple moving average of $83.34 and a two-hundred day simple moving average of $83.59. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.84.
Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). The firm had revenue of $777.01 million for the quarter, compared to analyst estimates of $786.03 million. Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. Research analysts anticipate that Lincoln Electric Holdings, Inc. will post 5.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, September 27th. This represents a $1.88 annualized dividend and a yield of 2.11%. Lincoln Electric’s payout ratio is currently 39.00%.
In related news, SVP Michael Mintun sold 3,800 shares of Lincoln Electric stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.77, for a total transaction of $322,126.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP George D. Blankenship sold 53,305 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $82.67, for a total value of $4,406,724.35. The disclosure for this sale can be found here. Company insiders own 3.39% of the company’s stock.
Lincoln Electric Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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